626 bitcoin mined and 40 EH/s surpassed in operating hashrate

More than 8% fleet efficiency improvement month over month

LAS VEGAS, Feb. 4, 2025 /PRNewswire/ — CleanSpark, Inc. (Nasdaq: CLSK), America’s Bitcoin Miner® (the “Company”), today released its unaudited bitcoin mining and operations update for the month ending January 31, 2025.

“CleanSpark powered through January, continuing to improve efficiency and reach new milestones despite historic weather events across several of our regions. We crossed the 40 EH/s milestone, achieved more than 10,500 bitcoin held in treasury, and celebrated the five-year anniversary of our uplisting on Nasdaq by ringing the bell last week,” said Zach Bradford, CEO and President of CleanSpark. “Now, the entire team is focused on executing our path to 50 EH/s and building on our top three position across operating hashrate, marginal cost per coin, fleet efficiency, bitcoin held, and total uptime. This month we saw our interruptible power contracts in action as we curtailed portions of the portfolio during extreme cold weather events. We demonstrated our ability to support our utility and community partners, specifically during the coldest five days, and the benefit to our broad regional portfolio strategy by mitigating downtime in the Southeast with limited interruption across our other regions. Despite the weather, construction in Tennessee, Georgia, and Wyoming continues as we march toward our midyear goal.”

January Bitcoin Mining Update (unaudited)

• Bitcoin produced in January: 626
• Total bitcoin holdings as of January 31: 10,556
• Month-end operating hashrate: 40.1 EH/s
• MW under contract: 873 MW¹
• Month-end fleet efficiency: 16.15 J/Th
• Total bitcoin sold in January: 22.47
• Deployed fleet: 217,272
• CY2025 bitcoin produced: 626

Throughout January 2025, the Company’s average hashrate was 34.76 EH/s and average fleet efficiency was 17.37 J/Th, resulting in an average of 20.19 bitcoin mined daily. The single day high reached 22.89 bitcoin. The Company sold 22.47 bitcoin during January 2025 at an average price of approximately $100,412 per bitcoin.

¹MW includes all contracted power capacity for wholly owned sites and excludes contracted capacity through hosting agreements and/or other non-binding arrangements.

Additional Updates
Twin City, Georgia. A new 12 MW site in Georgia housing S21 Pro miners is almost fully online, with approximately 0.7 EH/s contributing to CleanSpark’s operating hashrate. The remaining 0.1 EH/s is expected to come online in the coming weeks.

Cheyenne, Wyoming: We are actively deploying in our technologically advanced immersion environment and remain on track for completion in this quarter. Full deployment is expected to contribute 5 EH/s to CleanSpark’s most efficient hashrate once fully energized using the latest generation S21 XP Immersion machines.

About CleanSpark
CleanSpark (Nasdaq: CLSK), America’s Bitcoin Miner®, is a market-leading, pure play Bitcoin miner with a proven track record of success. We own and operate a portfolio of mining facilities across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our mining facilities to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by securing the most important finite, global asset – Bitcoin – positions us to prosper in an ever-changing world. Visit our website at www.cleanspark.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include, but may not be limited to, statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: completion and performance of Jackson, Tennessee, Cheyenne, Wyoming, and Twin City, Georgia data centers; anticipated additions and targets to CleanSpark’s hashrate and the timing thereof; the risk that the electrical power available to our facilities does not increase as expected; the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate; increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; dependency on third-party power providers for expansion efforts; the expectations of future revenue growth may not be realized; and other risks described in the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2023, and any subsequent filings with the SEC. Forward-looking statements contained herein are made only as to the date of this press release, and we assume no obligation to update or revise any forward-looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law.

Investor Relations Contact 
Barbara Domingo
702-989-7693
ir@cleanspark.com

Media Contact
Eleni Stylianou
702-989-7694
pr@cleanspark.com

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SOURCE CleanSpark, Inc.

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The Ethereum price surge took the crypto world by storm as the second-largest blockchain saw its value jump 25% in 24 hours. The cryptocurrency soared from $2,300 to over $2,900, recovering from a recent downturn. This latest rally coincided with a tweet from Eric Trump, which fueled speculation about the Trump family’s involvement in crypto markets.

Eric Trump’s post on X (formerly Twitter) simply read: “In my opinion, it’s a great time to add $ETH.” This statement ignited a frenzy of speculation among investors, with many wondering whether the Trump administration might integrate Ethereum into future U.S. crypto policies.

Political Influence on Ethereum’s Price Surge

The timing of Ethereum’s rally is significant, occurring shortly after Donald Trump signed an executive order to establish a U.S. sovereign wealth fund. While the administration has hinted at Bitcoin (CRYPTO:BTC) being included in this initiative, Ethereum (CRYPTO:ETH) has not been officially mentioned.

However, the Trump family’s financial ties to crypto suggest that Ethereum could still play a role in future policy decisions. The newly launched World Liberty Financial, a decentralized finance (DeFi) project reportedly backed by Trump-affiliated investors, has been accumulating Ethereum and wrapped Bitcoin (WBTC) as part of its holdings.

The endorsement from Eric Trump adds weight to the theory that Ethereum could gain political backing in the coming months. If Ethereum adoption increases in government and institutional circles, it could lead to greater mainstream acceptance.

Ethereum vs. Solana: The Battle for Market Dominance

Despite the Ethereum price surge, there are concerns that the blockchain is losing ground to competitors like Solana (CRYPTO:SOL). Over the past year, Solana’s lower transaction costs and faster processing speeds have made it an attractive alternative for developers and investors.

Ethereum, which pioneered smart contracts, has faced criticism for its high gas fees and scalability challenges. While Ethereum’s transition to Ethereum 2.0 has improved its efficiency, many in the industry argue that its market share is being eroded by newer blockchains offering better performance.

The Ethereum community, led by Vitalik Buterin, is currently debating the future of the blockchain. Some developers claim Ethereum needs faster innovation, while others argue that its established network effect makes it the most secure smart contract platform.

Institutional Investors Eye Ethereum’s Potential

The latest Ethereum price surge has caught the attention of institutional investors. With BlackRock (NYSE:BLK) filing for an Ethereum ETF, there is speculation that a regulated investment vehicle could drive further adoption.

A spot Ethereum ETF approval would likely bring in billions of dollars from traditional finance firms, similar to how Bitcoin ETFs boosted BTC’s price. If institutions continue accumulating Ethereum, it could solidify its place as the dominant smart contract blockchain.

Meanwhile, tech giants like Microsoft (NASDAQ:MSFT) and Meta Platforms (NASDAQ:META) are exploring Ethereum-based applications, particularly in the fields of AI, gaming, and the metaverse. This suggests that Ethereum’s real-world utility is expanding beyond simple peer-to-peer transactions.

What’s Next for Ethereum?

While Ethereum’s price surge has created excitement, the road ahead remains uncertain. Key developments to watch include:

Regulatory Clarity – Will the SEC approve an Ethereum ETF, and how will U.S. regulators classify Ethereum’s status?

Adoption in U.S. Policy – Could the Trump administration integrate Ethereum into its crypto strategy?

Ethereum vs. Solana Rivalry – Will Ethereum maintain its lead, or will Solana and other competitors continue gaining ground?

With political endorsements, institutional adoption, and technological improvements in play, Ethereum’s future remains one of the most debated topics in the crypto space. The next few months could determine whether this Ethereum price surge is just a temporary spike—or the start of a much bigger move.

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The appointment of David Sacks as the United States’ crypto czar marks a significant shift in the country’s approach to blockchain and artificial intelligence (AI). With the new administration prioritizing pro-crypto policies, Sacks is expected to lead efforts in crafting a favorable regulatory environment.

“For the last four years, the Biden administration has basically prosecuted and persecuted crypto companies, really driving them offshore,” Sacks recently stated on Fox Business.

On Tuesday, Sacks, a Silicon Valley venture capitalist with close ties to Elon Musk and Peter Thiel, will present his approach in Washington.

David Sacks and the PayPal Mafia

A key figure in the famous PayPal Mafia, Sacks played a pivotal role in the early days of PayPal Holdings Inc. (NASDAQ:PYPL). The 52-year-old South African native, who earned a law degree from the University of Chicago, became the company’s first chief operating officer.

After eBay acquired PayPal for $1.5 billion in 2002, Sacks ventured into startups, founding and investing in companies such as:

Geni, a genealogy platform

Yammer, an enterprise communication tool later acquired by Microsoft (NASDAQ:MSFT)

Zenefits, a human resources software firm

In 2017, Sacks launched Craft Ventures, a venture capital firm backing startups in AI and blockchain, including BitGo, a major player in crypto custody, and Solana (CRYPTO:SOL) via an investment in Multicoin Capital.

The Political Shift: From Tech to Trump

Like Musk and Thiel, Sacks is vocal about his right-wing political stance. He has penned conservative opinion pieces and criticized U.S. foreign aid to Ukraine.

His political engagement intensified in 2023 when he hosted a fundraiser for Donald Trump, raising $12 million for the campaign. Sacks has since become a key policy advisor, particularly on crypto regulations and AI integration.

What’s Next for Crypto Under David Sacks?

Now holding one of the most influential roles in blockchain policy, Sacks faces high expectations from the industry. His priorities include:

Stablecoin Legislation – Pushing for clear regulations on stablecoins like Tether (CRYPTO:USDT).

Bitcoin Strategic Reserve – Exploring whether the U.S. should hold Bitcoin (CRYPTO:BTC) as part of its reserves.

AI & Blockchain Synergies – Encouraging research on decentralized AI applications.

He will have support from other pro-crypto policymakers, including Paul Atkins, Trump’s pick for the Securities and Exchange Commission (SEC), and Howard Lutnick, nominee for Secretary of Commerce, who has business ties to Tether.

As Sacks outlines his vision, the industry will be watching closely. His policies could determine whether the U.S. reclaims its dominance in crypto and AI innovation.

The Future of U.S. Crypto Regulation Under David Sacks

With David Sacks at the helm of crypto and AI policy, industry leaders are optimistic about a more innovation-friendly regulatory landscape. The previous administration’s approach led to regulatory uncertainty, prompting many crypto firms to move operations offshore. Sacks has made it clear that his objective is to bring these companies back and create a business-friendly environment in the U.S.

One of the most anticipated developments under Sacks is the possibility of the U.S. adopting Bitcoin as a strategic reserve asset. While nations like El Salvador have already taken steps in this direction, the U.S. embracing Bitcoin (CRYPTO:BTC) on a national level would be a game-changer for institutional adoption.

Additionally, Sacks is expected to streamline SEC regulations under the leadership of Paul Atkins, reducing legal barriers that have stifled crypto exchanges and DeFi projects.

With AI and blockchain integration also on the agenda, Sacks’ policies could significantly impact sectors beyond finance, including cybersecurity, healthcare, and supply chain management.

As the Trump administration’s crypto czar, Sacks has a unique opportunity to shape the future of digital assets and AI in the U.S. The industry is now waiting to see how his vision translates into concrete policy actions.

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DUBAI, UAE, Feb. 4, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, redefines the ecosystem experience at the heart of MENA’s Web3 hub with the first brick and mortar Bybit Crypto Ark Experience Store. At the exclusive opening event on Jan. 17 at the Bybit headquarters, the brand new space was unveiled to the global crypto community.

A New Chapter in Ecosystem-Driven Innovation
Welcoming diverse members of the crypto ecosystem, Bybit gave over 100 attendees a glimpse of Web3’s future through an immersive experience at Bybit’s famed Crypto Ark. The guests were treated to an evening of inspiring conversations and crypto innovations. Panels and pitches captured the latest trends and revolutionary solutions in crypto, featuring prominent guest speakers and founders from The Crypto Hub, Tiny Trader, the storied Ghaf Capital, PWR Chain, Griffin AI, Moonring, Dragon Fram, among others.

Speakers from Bybit also opened up with a deep dive into the platform, showcasing the advanced products and features most popular among its users. The rapid-fire session provided visitors with an overview of Bybit’s comprehensive offerings, from wealth management, institutional solutions, VIP programs, to Web3 product innovation, all within an hour.

To The Heart of Innovation at the Crypto Ark
The new hub of blockchain and crypto innovation spans an impressive 16,000 sq. ft. at Dubai‘s CBD, fully dedicated to community building and the BUIDL ethos of the Web3 generation. It manifests Bybit’s vision to create an open space for dialogues both on-chain and in real life, driving forward blockchain innovation through collaborations and trust.

“We welcome everyone who shares our passion for crypto and a smart-contract-enabled future, and it would be the highest honor to see changes materialize at the Bybit headquarters,” said Michelle D, UAE Country Manager at Bybit. “An ecosystem only thrives on a diverse supply chain of resources and talent. The Bybit’s Crypto Ark Experience Store provides traders with a space to explore and experience Bybit products, while offering builders a platform to test their ideas and turn their dreams into reality.”

Bybit is committed to creating real-world impact with the global crypto community, and its door is open to entrepreneurs, traders, and blockchain technology enthusiasts who are looking for an intellectual home and creative space. Find out more about the the Bybit Crypto Ark Experience Store and stay tuned for future events: Application Form.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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SOURCE Bybit

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The recent Bitcoin (CRYPTO:BTC) price crash to $91,200 has sparked debates over whether the crypto bull run is ending. While BTC recovered to $99,000 after news that U.S. tariffs on Mexico would be delayed, uncertainty looms over the market.

Bitcoin Faces Key Resistance Levels Amid Market Jitters

The ongoing market turbulence stems from former President Donald Trump’s aggressive trade policies, which many compare to the 1930 Smoot-Hawley tariffs that deepened the Great Depression.

Financial markets reacted swiftly, with the tech-heavy NASDAQ Composite (NASDAQ:IXIC) dropping 2.40% before recovering. Meanwhile, Bitcoin’s price movements have mirrored investor sentiment regarding the tariff impact.

Trump’s recent announcement that “pain” from tariffs is necessary caused Bitcoin to dip to $91,200, a critical support level. However, an agreement between the U.S. and Mexico postponed new tariffs by a month, prompting a recovery in risk assets, including crypto.

Still, BTC faces resistance at $100,000, $102,000, and $104,000. A rejection at these levels could lead to a retest of $91,200, or even a deeper correction toward $74,000, according to market analysts.

Traders remain cautious as Trump is set to hold discussions with Canadian Prime Minister Justin Trudeau. Any negative developments could reignite selling pressure, particularly if tariffs expand to other major trading partners like China and the European Union.

Crypto Bull Run at Risk? Indicators Signal Market Weakness

While some investors believe the crypto bull run is intact, key indicators suggest caution.

The MVRV (Market Value to Realized Value) momentum indicator remains weak, signaling a potential cooldown. Historical data shows that a drop below $92,100 could trigger a deeper sell-off.

Additionally, the crypto market’s high leverage levels mean that liquidations can intensify downward moves. Over the past 24 hours, more than $2.2 billion in leveraged positions were wiped out, making this one of the largest liquidation events since the FTX collapse in 2022.

Smart Money Investors Shift Focus to Low-Cap Cryptos

Amid the uncertainty surrounding Bitcoin’s direction, institutional investors and high-net-worth traders are increasingly shifting their focus to low-cap cryptocurrencies.

For instance, Solana-based token Alpha (CRYPTO:ALPHA) surged 46% on Monday, defying the market downturn. This suggests that investors are hunting for alternative opportunities beyond large-cap assets.

Similarly, AI-driven meme coin Mind of Pepe (CRYPTO:MIND) is gaining traction. Unlike traditional meme coins, MIND leverages artificial intelligence to provide real-time market analysis and community-driven trading signals.

MIND’s ongoing presale has already raised nearly $5 million, highlighting strong investor interest despite broader market volatility. With its ability to self-manage social media trends, some traders believe MIND could deliver 10x to 100x returns in the coming months.

Altcoins Remain High-Risk, High-Reward Plays

Despite the resilience of select low-cap cryptos, large-cap altcoins remain vulnerable. Tokens like Fartcoin (CRYPTO:FARTCOIN), AI16Z (CRYPTO:AI16Z), and AIXBT (CRYPTO:AIXBT) continue to show strong correlation with Bitcoin, meaning another BTC dip could drag these assets lower.

However, traders who correctly time entries into high-demand altcoins could benefit from significant short-term rallies. Historically, the assets that bounce the hardest during market recoveries tend to have the strongest upside potential.

Final Thoughts: Should You Still Buy Bitcoin?

The crypto bull run may not be over, but investors should proceed with caution. Bitcoin must decisively break above $104,000 to confirm bullish momentum. Until then, volatility is likely to persist, with potential downside risks remaining.

For those seeking safer entries, dollar-cost averaging (DCA) may be a prudent strategy. Additionally, keeping an eye on alternative assets like low-cap cryptos and AI-driven projects could provide opportunities even in uncertain market conditions.

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